The Office of Fair Trading (OFT) has published a consultation on its future approach to supervising estate agents and certain credit lenders under the Money Laundering Regulations 2007 and the appropriate fee structure. The OFT has operated an interim compliance monitoring regime and is now seeking views on a more appropriate model for monitoring and enforcement activity for the longer term. The consultation covers:
- identifying those who have not registered with the OFT;
- monitoring and enforcement;
- penalties; and
- future fee structures.
Comments are invited by 7 May 2010.